eBay’s shares shot up
about 5% to $51.40, which happens to be a new multi-year record, in Monday’s
session. Amazon.com, Inc.(NASDAQ:AMZN) shares have increased 1% to $243.62.

Cyber Monday has been
the largest online shopping day in recent times, since workers return to their
offices and can use computers to place orders for holiday gifts. ComScore is
expecting online sales to hit a record of about $1.5 billion by the end of the
day.

Online sales figures
increased 24.1% as of noon EST on Monday, as compared with the same period the
previous year, as observed by International Business Machines Corp. that is
responsible for tracking transaction data from 500 US retail websites. IBM said
that in 2011, the early Cyber Monday year-over year development was 15%.

Strong online sales
growth on Black Friday and Thanksgiving day have instigated concerns that
shoppers were just purchasing earlier, intimidating revenue later in the
holiday season.

The strategy director
for IBM Smarter Commerce feels that extending the holiday season has indeed
dueled extra online expenses rather than cannibalizing days later in the
season.

ChannelAdvisor has
mentioned that sales generated by third party merchants with the helps of the
software and services of the company increased 57% on eBay early on Monday, as
compared with the same period in the year 2011. ChannelAdvisor found that the
rate of sales growth was 5x higher than during the same period the previous
year.

An equity analyst at
Morningstar, R J Hottovy said that the early eBay figures are incredible and
that they have put together an effective marketing strategy across a number of
channels this holiday season, namely online, print and television.